Tullett, Tradition Talks Are Said to Hit Snag Over Price (Bloomberg)

It seems SEF consolidation has already begun, even though SEFs are technically yet to exist. I think this kind of consolidation is inevitable, and it seems the exchange merger mania will only add fuel to the fire.

The new rules will force consolidation among derivatives brokers and “once all is flushed out and done, you’ll have some people completely disappear and others will merge,” said Kevin McPartland, a senior analyst with Tabb Group in New York.